Here's Why The OMNI Price Just Surged | Credit: Hameem Sarwar
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Key Takeaways
Omni Network’s (OMNI) price broke out from a descending parallel channel.
OMNI is breaking out from a descending parallel channel.
How long will the Omni Network price increase continue?
Despite lacking a news catalyst, Omni Network (OMNI) is one of the biggest gainers in the crypto market today.
The price has broken out from its long-term pattern, announcing the start of its next leg up.
Let’s examine the charts and see how long the upward trend will continue.
Omni Network Price Prediction
Since its launch, the OMNI price has completed a five-wave downward movement inside a descending parallel channel.
OMNI’s five-wave decline ended in July with a massive bullish candlestick, which took the price to the channel’s resistance trend line.
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Momentum indicators are bullish. The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) catalyzed the rally with bullish divergences.
So, the Omni Network price prediction is bullish, suggesting a rally toward $10 will occur.
Why is Omni Network Going Up?
The shorter-term six-hour chart shows that Omni Network is nearly ready to begin the next portion of its ascent.
Since the start of July, the OMNI price movement has been confined within a shorter-term ascending parallel channel.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
